House Subcommittee to Consider Bill to Abolish National Housing Trust Fund; NLIHC President Sheila Crowley Available for Comment

Washington, D.C. – July 12, 2011 – (RealEstateRama) — On the morning of July 11, the Subcommittee on Capital Markets and the GSEs of the House Financial Services Committee will vote on the latest series of bills to dismantle Fannie Mae and Freddie Mac.

One bill to be considered, H.R. 2441, introduced by Representative Ed Royce (R-CA), would eliminate the National Housing Trust Fund (NHTF). The National Housing Trust Fund was established in 2008 and is intended to provide communities with funds to build, preserve, and rehabilitate rental homes that are affordable for extremely low income and very low income households. The NHTF has not yet been capitalized, though the legislation that created the National Housing Trust Fund was part of reform of Fannie Mae and Freddie Mac and directed the two GSEs to make contributions to the NHTF.

At the hearing, Representative Al Green (D-TX) is expected to introduce an amendment that preserves the NHTF, but eliminates the requirement that Fannie Mae and Freddie Mac make contributions to fund the program.

Ms. Crowley will be available to speak to members of the media following the markup.

Markup Information

WHAT: Markup of H.R. 463, Fannie Mae and Freddie Mac Transparency Act of 2011; H.R. 2436, the Fannie Mae and Freddie Mac Taxpayer Payback Act of 2011; H.R. 2441, the Housing Trust Fund Elimination Act; H.R. 2440, the Market Transparency and Taxpayer Protection Act; H.R. 2462, Cap the GSE Bailout Act; H.R. 2439, Eliminate the GSE Charter During Receivership; and H.R. 2428, the GSE Legal Fee Reduction Act.

WHEN: Tuesday, July 12 at 10:00 a.m.

WHERE: Room 2128, Rayburn House Office Building

Established in 1974 by Cushing N. Dolbeare, the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest incomes in the United States have affordable and decent homes.

Contact:
Amy Clark, 202-662-1530 x227;

National Low Income Housing Coalition (NLIHC)
727 15th Street NW, 6th Floor, Washington, D.C. 20005
202/662-1530; Fax 202/393-1973;